EDS missed Wall St revenue estimates but trumped earnings forecasts when it turned in its swansong Q2 results yesterday.
The services company, which is due to be swallowed by HP in the next few months, turned in revenues of £5.6bn for the quarter ending June 30, up three per cent on the year. Wall Street analysts had been …

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revenue...

"The services company, which is due to be swallowed by HP in the next few months, turned in revenues of £5.6bn for the quarter ending June 30, up three per cent on the year. Wall Street analysts had been primed for revenues of $5.7bn."

Blimey... they delivered £5.6bn rather than $5.7bn. No wonder HP were pleased to buy them... ;-)

Re: Re: EDS Stands for

Re: Re: Re: EDS Stands for

WHAT??

$130 million, (i.e. £65 million) profit, on $5.6 BILLION?????????

Er, I'm no financial guru by any means, but that really does sound shite to me. They must be like the MOST in-efficient company in the universe. Where's all their bloody money going? Burn 5.6 BILLION to make a profit of 130 million...

re: TMS9900

"Where's all their bloody money going? Burn 5.6 BILLION to make a profit of 130 million..."

I was once asked to attend a fairly highish EDS managers meeting in the UK (there was no other tech guy available so I ain't nowt special). The talk consisted about expenses, SAP codes, hotels, how to claim all the travel miles, where to eat, what to eat.....get the message.

The meet lasted 2 days, the first day we attended, everything (and I mean everything) could have beed resolved within a 1 hour teleconference. The second day only lasted 3 hours before everyone had to fly back to Germany, Switzerland, Belguim and one from USA.

The cost of this small meeting was enormous - the output could have been resolved easily by telephone and email. This was I believe a typical day in many EDS centres.

I could also go on about EDS software that nobody wants or uses, the huge number of middle managers, the cost of contractors that were employed at my account because the managers didn't want to train anyone to do the job that many on the account would have done for a little increase in wages. The constant turn over of staff...ie train them up and then see them leave for a job at macDonalds for better wages!!!

Just a contractor but...

for what EDS charged my time back to their clients for, it could have funded several other people just like me, if EDS had been taking a fair cut. There seem to be many layers of management that add little of value...HP should have a field day with this...they don't have enough of the people at the worker level who do very good work (when given the chance.)